National Accounts of the Philippines - Sources of Revision

National Accounts of the Philippines

Untitled Document

 

2nd Quarter 2015
Gross National Income & Gross Domestic Product

 

Sources of Revision

I. Expenditure Accounts

Q1  2015 2014-2015 Reasons  for revisions
Growth Rates
Expenditure Accounts As of May 2015 As of August 2015 Change
1. Household Final Consumption Expenditure
Current        
Q1 7.1 7.2 0.1  
Constant           Updated  data on HFCE indicators.
Q1 5.4 6.0 0.6  
         
2. Government Final  Consumption Expenditure 
Current        
Q1 6.6 3.5 -3.1 Updated data from DBM on personal services and MOOE.
Constant        
Q1 4.8 1.7 -3.1  
         
3. Capital Formation 
Current        
Q1 -2.3 -3.3 -0.9  
Constant        
Q1 11.8 11.7 -0.2  
         
   A. Fixed Capital
Current        
Q1 1.2 1.8 0.6  
Constant        
Q1 10.1 10.0 -0.1  
         
     1. Construction
Current        
Q1 6.7 7.7 1.0  
Constant       Updated data in QSPBI
Q1 5.7 6.7 0.9  Updated data in Building Permits. Availabilty of DOF data 
        on GOCCs.
     2. Durable Equipment
Current        
Q1 -5.1 -4.9 0.2 Updated data
Constant        
Q1 14.3 13.5 -0.8 Revision in the subsectors of Manufacturing related to 
        Durable Equipment
     3. Breeding Stocks & Orchard Development
Current        
Q1 -1.2 0.3 1.5 Due to revised  and updated data from the Philippine 
Constant       Statistics Authority (PSA).
Q1 0.1 0.1 0.0  
         
     B. Changes in  Inventories
Current        
Q1 -49,631          (59,891) -10259.9 Updated inventory data from  PSA Manila & Quezon City
Constant       Availabilty of 90 days QSPBI data
Q1       (1,729)            (2,310) -581.4  
         
     C. Intellectual Property Products
Current        
Q1 11.5 10.3 -1.2 Due to revised Mining & Quarrying GVA current, availability 
Constant       of 90 days QSPBI for Business Activities, due to revised
Q1 14.8 13.1 -1.8 office machineries and computing machineries of Durable
        Equipment.
4. Exports
Current        
Q1 -2.7 2.6 5.3  
Constant        
Q1 1.0 6.4 5.4  
         
   A. Export of Goods
Current        
Q1 -6.2 -6.2 0.0   
Constant       Updated indices.
Q1 1.2 4.2 3.0  
         
   B. Export of Services
Current        
Q1 3.2 17.1 14.0 Revised and updated BOP data from BSP.
Constant        
Q1 0.4 14.1 13.7  
         
5. Imports
Current        
Q1 -3.2 0.6 3.8  
Constant        
Q1 4.6 8.7 4.2  
         
   A.  Imports of Goods
Current        
Q1 -5.9 -0.3 5.7 Updated March Forein Trade Statistics (FTS)data
Constant        and Updated price data from PSA.
Q1 2.5 10.0 7.6  
         
   B. Imports Services 
Current        
Q1 6.3 3.7 -2.6 Revised and  updated BOP data from BSP.
Constant        
Q1 11.9 4.1 -7.8  
         
6. Net Primary Income
Current        
Q1 2.2 0.1 -2.1 Revised BOP data and updated POEA data.
Constant        
Q1 2.7 0.8 -1.9  
         

 

 

II. Production Accounts

Q1  2015 2014-2015 Reasons  for revisions
Growth Rates
Production Accounts As of May 2015 As of August 2015 Change
1. AGRI., HUNTING, FORESTRY & FISHING 
Current        
Q1 -1.1 -2.2 -1.1  
Constant        
Q1 1.6 1.1 -0.5  
         
a. Agriculture and Forestry Updated/revised data in volume and price in agriculture and
Current -0.5 -1.8 -1.3 fishing from Philippine Statistica Authority  (PSA).
Q1        
Constant       Updated log production by region from the
Q1 2.5 1.9 -0.6 Forest Management Bureau (FMB).
         
b. Fishing
Current        
Q1 -5.0 -5.2 -0.2  
Constant        
Q1 -2.6 -2.9 -0.3  
         
         
2. Industry
Current        
Q1 4.2 4.3 0.1  
Constant        
Q1 5.5 5.5 0.0  
         
   a. Mining and Quarrying
Current        
Q1 -13.9 -16.3 -2.4 Updated production reports from MGB and DOE 
Constant       Availability of 90 days QSPBI data for Stone Quarrying
Q1 7.1 -3.1 -10.2 Availability of CEMAP, cement production data. 
         
   b. Manufacturing
Current        
Q1 4.7 4.6 -0.1 Updated data in QSPBI. Updated value of production in MISSI. Revision in PPI (for inflation)
Constant        
Q1 5.9 6.0 0.2  
         
   c. Construction
Current        
Q1 5.9 6.8 0.9 Availability of DOE data on GOCC's.
Constant       Updated data from 90 days QSPBI  for Average Earnings Index 
Q1 4.5 5.4 0.9 Updated data in Building Permit
         
   d. Electricity, Gas,  and Water Supply 
Current        
Q1 3.5 4.3 0.8 Updated parameters for generation.Updated data on water and electricity revenue and availability of 90 days QSPBI data.
Constant        Validated price data from distribution  utilities.
Q1 4.1 5.1 1.0  
         
3. Services
Current 7.6 7.5 -0.1  
Q1        
Constant        
Q1 5.6 5.4 -0.2  
         
   a. Transport., Storage & Communication
Current        
Q1 10.6 10.1 -0.4 Updated  QSPBI data 
Constant        
Q1 8.6 8.3 -0.3  
         
   b. Trade and Repair of Motor Vehicles,  Motorcycles, Personal and Household Goods
Current        
Q1 6.1 6.2 0.1 Updated QSPBI data.
Constant        Revisions in WPI and RPI.
Q1 5.4 5.5 0.0  
         
   c. Financial Intermediation
Current        
Q1 6.9 6.9 0.0 Availability of 90 days QSPBI data
Constant        
Q1 4.3 4.3 0.0  
         
   d. R. Estate, Renting & Business Activities
Current        
Q1 10.2 10.1 -0.1 Availability of 90 days QSPBI data
Constant        
Q1 6.4 6.3 -0.1  
         
   e. Public Administration & Defense; Compulsory Social Security
Current        
Q1 -0.2 -3.9 -3.7  Revisions due to updated data on personal services from 
Constant        DBM.
Q1 0.2 -3.5 -3.8  
         
   f. Other Services        
Current        
Q1 8.4 9.2 0.8 Updated QSPBI data 
Constant        
Q1 5.8 6.6 0.7 Availablity of the Financial Statement of major establishments
         
GROSS DOMESTIC PRODUCT
Current        
Q1 5.5 5.3 -0.2  
Constant        
Q1 5.2 5.0 -0.2  
         
GROSS NATIONAL  INCOME
Current        
Q1 4.9 4.3 -0.5  
Constant        
Q1 4.7 4.2 -0.5  

 

 

 

 

 

 

Posted: 27 August 2015


 

The PSA Office
PSA CVEA Building,
East Avenue, Quezon City
Tel. No. (632) 462-6600; Fax No. (632) 462-6600
URL: http://psa.gov.ph
E-mail: info@psa.gov.ph

 

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Updated 28 January 2016

Ver. 7.2014.234-11.04

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